Riverbridge Partners LLC trimmed its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD – Free Report) by 19.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 180,977 shares of the construction company’s stock after selling 43,159 shares during the quarter. Riverbridge Partners LLC’s holdings in Simpson Manufacturing were worth $31,059,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of SSD. AQR Capital Management LLC grew its position in shares of Simpson Manufacturing by 51.3% during the first quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company’s stock worth $798,000 after acquiring an additional 1,726 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Simpson Manufacturing by 11.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company’s stock valued at $427,000 after purchasing an additional 286 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Simpson Manufacturing in the 1st quarter valued at about $531,000. Goldman Sachs Group Inc. boosted its stake in Simpson Manufacturing by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company’s stock valued at $33,327,000 after purchasing an additional 64,114 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Simpson Manufacturing by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company’s stock worth $19,022,000 after purchasing an additional 12,865 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on SSD. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Robert W. Baird boosted their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Stifel Nicolaus raised their target price on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, DA Davidson lifted their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.75.
Simpson Manufacturing Stock Up 0.1%
Simpson Manufacturing stock opened at $198.48 on Wednesday. Simpson Manufacturing Company, Inc. has a 52 week low of $154.22 and a 52 week high of $211.98. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 23.27 and a beta of 1.32. The company’s 50-day moving average price is $187.26 and its two-hundred day moving average price is $182.24. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17.
Simpson Manufacturing (NYSE:SSD – Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. The company had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. On average, analysts expect that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current fiscal year.
Simpson Manufacturing Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, July 2nd. Simpson Manufacturing’s payout ratio is currently 13.60%.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.
Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.
Featured Articles
- Five stocks we like better than Simpson Manufacturing
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
Want to see what other hedge funds are holding SSD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simpson Manufacturing Company, Inc. (NYSE:SSD – Free Report).
Receive News & Ratings for Simpson Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.
